Europe Contraceptives Market - Growth, Trends, and Forecast (2020 - 2025)
The European contraceptives market is expected to witness a CAGR of 7.76% during the forecast period. Certain factors that are driving the market growth include the increasing prevalence of STDs, the growing rate of unintended pregnancies, increasing demand for modern contraceptive methods, and rising government initiatives.
Contribution toward the growth of the contraceptives market is a necessity in order to avoid unwanted pregnancies and their complications. A high percentage of women who are sexually active do not want to become pregnant. The contraceptive prevalence in Europe is estimated to be 71.8%, indicating a good use of contraceptives among the European population. The need to avoid unwanted pregnancies, especially in teenage women, is one of the major drivers for this market.
It is also observed that more than half of the women identify non-contraceptive health benefits, such as treatment for excessive menstrual bleeding, menstrual pain, and acne, as reasons for use. These are some of the factors contributing to the growth of the market. The other factors helping the growth of the contraceptives market are the increasing incidence of STDs and the rapid increase in population. Government initiatives promoting the use of contraceptives to avoid unnecessary births and the health benefits from using the contraceptives have also been important players in the growth of the market.
However, factors, such as religious and cultural opposition in certain emerging nations have been restraining the growth of this market. Along with this, the fear of certain side effects and issues, such as infertility resulting from the use of contraceptives have been major setbacks from the market point of view. Issues, such as limited access to contraceptives in the developing and economically backward nations have been another setback in this market. It is estimated that among the European women, meeting the needs of family planning is estimated to be as high as 10.1%.
Key Market Trends
Condoms are Expected to hold its Highest Market Share in the Devices Type
Condom use has significantly increased in adolescents due to easy availability and convenience. Furthermore, effective protection from sexually transmitted infections and demand from the young population to enhance their sexual experience is expected to aid the product demand.
The correct use of condoms during sexual intercourse is an effective way to prevent sexually transmitted diseases (STD) and unwanted pregnancies at all ages. Increasing condom use to prevent sexually transmitted infections has become a key public health goal. According to the 2016 article “Increasing condom use in heterosexual men: development of a theory-based interactive digital intervention”, sexually transmitted infections (STIs) are a major public health problem, with high social and economic costs. There were 450,000 STI diagnoses reported in England in 2012, an increase of 5 % over the previous year.
In addition, the availability of different variants under the brands with high-quality standards, cost-effectiveness, and easy access from supermarkets, drug stores, and e-commerce platforms paved the way for this verticle.
The European contraceptives market is highly competitive and consists of a number of major players. Companies like Actavis PLC, Agile Therapeutics, ANI Pharmaceuticals Inc., Bayer Healthcare, Fuji Latex Co., Ltd, Johnson & Johnson Ltd, Merck & Co, Pfizer, Teva Pharmaceuticals Ltd, the Female Health Company, among others, hold the substantial market share in the European contraceptives market.
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